Japan Biometrics Market to Grow at a 34.6% CAGR by 2018 Says a New Research Report at ReportsnReports.com

Biometrics Market in Japan 2014-2018 a new research report added to ReportsnReports.com store.

Dallas, Texas (PRWEB) June 21, 2014

The integration of biometrics and smart cards for projects such as rural banking and upgradation of the driver's license is one of the major trends witnessed in the market. Besides the aforementioned projects, biometrics is being used as a stand-alone authentication device for various purposes. Biometrics integrated in smart cards offers the advantage of offline authentication, which is especially beneficial for end-users in remote locations without a proper communication infrastructure. In addition, smart cards have the added advantage of storing multiple applications for multiple purposes. Thus, a smart card integrated with biometrics enables physical and logical access while being able to store all the necessary data. Individuals can also keep track of their access histories with the help of a smart card terminal.

Analysts forecast the Biometrics market in Japan will grow at a CAGR of 34.6 percent over the period 2013-2018. According to the report, the growth of the Biometrics market in Japan is driven by several factors, of which the most important is the integration of biometrics in ATMs. Many banks have introduced ATMs integrated with biometrics because accessing end-users' accounts becomes easier when compared to using cards and personal identification numbers. In addition, ATMs integrated with biometrics do not require a communication infrastructure. This is in turn supporting the growth of the Biometrics market in Japan.

This report covers the present scenario and the growth prospects of the Biometrics market in Japan for the period 2013-2018. To calculate the market size, the report considers revenue generated from the sales of biometrics solutions. It also presents the vendor landscape and a corresponding detailed analysis of the top four vendors in the market. In addition, the report discusses the major drivers that influence the growth of the Biometrics market in Japan. It also outlines the challenges faced by vendors and the market at large, as well as the key trends that are emerging in the market.

Further, the report states that one of the key challenges in the market is the strong competition from inexpensive non-biometric technologies. The presence of low-cost alternative technologies such as swipe cards, token-based two-factor authentication, and software authentication is a major challenge affecting the growth of the Biometrics market in Japan.

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